The securities exchange performed better having closed at 4053.79 up 19.71 points from last week Friday’s close. Today we shall be focus on three counters from the banking sector and one other. These are; Carbacid Investments Ltd, Standard Chartered Bank, NIC Bank and Kenya Commercial Bank.

A summary of Monday’s trading activities can be found here

COUNTERS

• KCB – The share maintained a price of KES 28.75, and was the second most traded yesterday, with 4.44 Million shares changing ownership. The share was ranked as top performer after constantly rising through the year from KES 17 to its current price. Those who owned shares in January are currently experiencing capital gains of 65% and could stand to double their initial value if the trend maintains. We shall be monitoring the share volume traded and the price to check if investors stand to make profits from selling them today.
• Standard Chartered Bank – The bank has experienced increased demand for the rights as local retail investors pump their money into it. This is because of the spread that the rights have seen thus far with a high of KES 89 and a low of KES 53 thus far. This has also affected the price of the stock currently listed in the Nairobi Securities Exchange. The counter saw a spread between KES 220 and KES 225 per share and sale of over 3000 shares. We shall keep an eye on demand for rights issue and its effect, given that it is ending this Friday 26 October.
• NIC Bank – The share closed at KES 35 yesterday and saw over 11,000 shares traded. The volume was however significantly lower than Friday performance by almost 75%. The shares that were added via the previous rights issue are scheduled for public listing and trading today. We shall be looking out for any material movement that shall result from this action.
• Carbacid Investments Ltd – The company has announced a final dividend of KES 3, making its total payable for the year (interim + final) KES 6. Only those registered as shareholders from 15^th to 22^nd November (inclusive of both dates) will be paid. Total payout has risen by KES 1, making the total worth 5% of the share’s value which currently stands at KES 121. We shall be watching to see if this corporate action will have an effect on shares demanded by the public between now and the close of the register.